2007-038 - Laserfiche WebLink

Home Browse Search

ORDINANCE 2007-038 Comprehensive Plan Capital Improvements Element Table 6.135: Indian River County Overall Operating Cost Projections Fiscal Year Total Operating Costs 2007/08 $27495179125 2008/09 $2759138,805 2009/10 $28099099607 2010/11 $284,490,667 2011/12 $289,649,242 Source: Indian River County Office of Management and Budget Projected Debt Capacity Debt Financing, which involves borrowing money using the county's assets as collateral, is one way that the county has provided for its capital facility needs. The primary rationale for providing capital facilities through indebtedness is that it spreads the cost of a facility over its useful life and thus is paid for by those who will use the facility. Table 6.14 provides a summary of the county's estimated ability to raise bonds without a public vote. The county's bonding capacity is identified for 10, 20, and 30 years. As table 6.14 indicates, the county's available bonding capacity for the next 10 years is $149,880,000155,600,000, with an additional potential of $296,800,000305,400.000, Table 6.146: Indian River County Estimated Ability to Raise Bonds Without A Public Vote Pledge Sources Ten Years Twenty Years Thirty Years (Bond Interest Rate @ (Bond Interest Rate (Bond Interest Rate @ 4.19%) A4.83%) 4.86% Half Cent Sales Tax 505300,000 831600,000 10697003000 Gas Taxes 4800,000 755500,000 935300,000 Tourist Tax $9,000,000 $14,200,000 175600,000 First Guaranteed Entitlement 13700,000 $25600,000 $3,2009000 Second Guaranteed Entitlement $3,400,000 $5,400,000 6,6001000 Sub -Total 11294009000 1819300 000 22794009000 Possible Pledge Sources 28,900,000 4554009000 56,100,000 Community Development Department Indian River County 38